Geneva-based impact investment firm Bamboo Capital Partners has sold a minority stake to global rival Palladium, in a move that will help boost its development of a new funding platform dedicated to the Sustainable Development Goals (SDGs).
In January, Bamboo Capital in coalition with other private and public sector organisations, launched SDG500, a $500 million blended finance investment platform dedicated to helping to achieve the SDGs in emerging markets across six individual funds.
These included the CARE-SheTrades Impact Fund, dedicated to financing to businesses promoting gender equality and women’s entrepreneurship. Other partners include the Stop TB Partnership, International Fund for Agricultural Development, the United Nations Capital Development Fund, Smart Africa,.
Bamboo said the initial investment by Palladium will provide the company with additional growth capital to increase its scale and accelerate the development of the platform, which it manages. In a statement, the two companies said they will also look to create new products in the future and that Palladium’s investment has the potential to grow in size over time.
Jean-Philippe de Schrevel, founder and managing partner at Bamboo Capital Partners said:
“Since I founded Bamboo in 2007, our vision has always been that large-scale impact investing can solve many of the world’s problems and improve the lives of the most marginalized communities. Our pioneering work has paved the way for partnerships with UN agencies and NGOs, and the creation of our groundbreaking SDG500 initiative. This is just the beginning.”
The deal will also see Bamboo become the asset management arm of Palladium. Christopher Hirst, the company’s chief executive, added:
“Palladium has been working to create positive impact for more than half a century, and never before has our mission felt more urgent or in need of investment. What Bamboo and Palladium share is this sense of urgency. Coupling that urgency with our complementary capabilities and track records means we can meet these challenges with bolder, bigger, and more effective solutions.”